Archive

Archive for 2011

“Liam is a lightkeeper, Arlene an artist. Together, they live an idyllic life on an island off the B.C. coast. He’s 53, she’s 59. They have a 23-year-old son who is out on his own. While the hours of a lightkeeper are long, their housing is provided by the government, casting Liam’s $47,000 a year salary in a better light. Arlene’s earnings are variable. Liam has been working for the government for only 16 years, so his pension will be modest; Arlene has none. Arlene and Liam have two main questions: How much do they have to save to retire with an after-tax income of $50,000 a year? Can they afford to buy a second home on the West Coast and rent it out until they retire without having to sell the duplex? We asked Brinsley Saleken, a financial planner at Macdonald, Shymko & Co. Ltd. in Vancouver, a fee-only financial adviser and portfolio manager, to look at Arlene and Liam’s situation.” Click here to read the rest of the article

“With all the economic uncertainty – low bond yields, volatile markets and potential loss of capital – we asked the experts what investors Jane and John Doe should do.” Gina Macdonald, a fee-only financial adviser with Macdonald, Shymko & Co. offers her advice. Click here to read the rest of this article

“The financial crisis was a wake-up call for boomers, who are living longer than ever before and increasingly carrying debt into their retirement years. There are ways to minimize the risks.” Gina Macdonald, a fee-only financial adviser with Macdonald, Shymko & Co., offers some advice about risk tolerance and asset mix in one’s investment portfolio. Click here to read the rest of this article

“When his spouse, Gary, died last year, Zeke was left with two mortgaged houses and some big decisions. He is living in his weekend home on B.C.’s Sunshine Coast but would like to move back to Vancouver. Should he sell the coast home, or can he keep both properties, Zeke wonders. He is uncomfortable with his $535,000 debt load and is striving to pay it off as soon as possible, making extra payments to his mortgages. Then there is the question of the survivor’s municipal pension from Gary’s employer. We asked Gina Macdonald, a fee-only financial planner at Macdonald Shymko & Co. Ltd. in Vancouver, to look at Zeke’s situation.” Click here to read the rest of the article

“Life is good for Lou and Dan. They have a successful dental business in a small southwestern Ontario town where housing costs are low. He’s 37, she’s 32. Their assets total $1.4-million, only $254,000 of which is their house – not bad for a couple with two young children. Yet success has sparked other dreams. Dan and Lou look to the day they can leave it all behind, pack up their children, now age 2 and 5, and move out West. Dan would sell his practice – say in nine years – and go to work part-time for someone else until he retired at about 55. Life would be simpler, and there’d be the mountains. Their dental corporation grosses about $500,000 a year, from which they each take $35,000 in dividends plus a small salary. They have no company pensions. If they move, their family income will drop substantially and their housing costs will be higher. Is it a plan worth pursuing or is it a gamble? Keith Copping, a financial planner at Macdonald, Shymko & Co. Ltd. in Vancouver, to look at Dan and Lou’s situation.” Click here to read the rest of this article